Fon­terra hails land sale rul­ing

South Waikato News - - RURAL DELIVERY -

Fon­terra has wel­comed the Govern­ment’s new di­rec­tive to the Over­seas In­vest­ment Of­fice as a prac­ti­cal move to­wards find­ing a bal­anced ap­proach to for­eign in­vest­ment in pas­toral land.

Fon­terra chair­man Sir Henry van der Hey­den said Fon­terra recog­nised the ben­e­fits of for­eign in­vest­ment but was concerned to en­sure that New Zealand’s pas­toral land was treated as a key strate­gic as­set.

‘‘Strong dairy­ing re­turns form an eco­nomic back­bone for New Zealand and we should recog­nise pas­toral land and dairy­ing as key strate­gic as­sets.’’

‘‘The new di­rec­tive tests the po­ten­tial eco­nomic loss to New Zealand re­sult­ing from large tracts of pas­toral land be­ing sold to for­eign buy­ers,’’ said Sir Henry.

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